CFPB -
Regulators Take Aim at AI to Protect Consumers and Workers -
“In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more
6/12/2023
/ Artificial Intelligence ,
Automotive Loans ,
Banking Sector ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Economic Sanctions ,
Equal Employment Opportunity Commission (EEOC) ,
Fake Online Accounts ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
Legislative Agendas ,
Russia ,
Student Loans
Mortgage Lenders are Starting to Go Broke Amid Rate Spike and US Mortgage Lenders are Starting to Go Bankrupt — How This One Factor Could be Triggering the Worst Surge of Failures Since 2008
"Last year, two-thirds of the...more
Student Loan Forgiveness is Completely Unfair to These People
"If President Joe Biden proceeds with wide-scale student loan cancellation, the most likely beneficiaries could include federal student loan borrowers who earn...more
Student Loan Forgiveness Updates: New Changes Coming in 2022 for Public Service Borrowers -
"Borrowers on track for Public Service Loan Forgiveness, a federal student loan forgiveness program for people devoted to careers...more
Millions of Consumers have Cut Their Debts, So Why are Financial Experts Sounding Alarm -
"And with stimulus payments a thing of the past and other unusual financial stabilization programs unwinding, the alerts are going...more
11/17/2021
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Cryptocurrency ,
Financial Services Industry ,
Forbearance Agreements ,
Mortgages ,
Payment Systems ,
Stablecoins ,
Student Loans
What to Expect as Education Department Gets Ready to Resume Student Loan Payments -
"After nearly two years of pausing student loan bills, the U.S. Department of Education is trying to figure out how to start collecting...more
Bankruptcies Trending Down in West Virginia, but for How Long?
"Then from June 2020 to June 2021, in the heart of the pandemic, those numbers dropped even more."
Why this is important: From 2016 to 2019, there was an...more
Biden Makes It Easier for Student Loan Borrowers to Get a Mortgage -
"The new rule supported by the Biden administration proposed that FHA lenders drop the requirement to calculate student loan payments at 1%."
Why this is...more
8/25/2021
/ Biden Administration ,
Blackberry ,
Connected Cars ,
Consumer Financial Products ,
Credit Scores ,
False Claims Act (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Mortgages ,
Paycheck Protection Program (PPP) ,
Student Loans ,
TCPA
President Biden Extends Pause on Student Loan Payments to 2022 -
"Student loan payments have been paused since Congress passed the CARES Act in March of last year but were due to resume in September."
Why this is...more
Mobile Payment App Complaints are Surging as More Americans Go Cashless -
"Top complaints include trouble with digital wallets, scams and customer service issues."
Why this is important: Roughly four in five Americans...more
Biden Administration to Cancel $1 Billion in Student-Loan Debt Held by Scammed Borrowers -
“Borrowers who requested loan forgiveness but got only partial relief under former Secretary of Education Betsy DeVos will have...more
3/24/2021
/ Banking Sector ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Cryptocurrency ,
Financial Services Industry ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
PayPal ,
Relief Measures ,
Student Loans ,
TCPA
Biden Administration May Undo Certain Trump-Era Mortgage Rules -
"Consumer advocates believe the rules may promote the sort of risky borrowing that led to the financial crisis in 2008."
Why this is important: The...more
Biden to Pick Rohit Chopra to Lead Consumer-Finance Agency -
"Rohit Chopra is the former student-loan ombudsman at the Consumer Financial Protection Bureau."
Why this is important: As an assistant director of the CFPB,...more
How Virginia’s 2020 Fairness in Lending Act Reforms Small-Dollar Loans -
"The law closes regulatory loopholes, caps interest rates, and provides lessons for other states."
Why this is important: Earlier this year, the...more
11/4/2020
/ Bitcoin ,
Consumer Financial Products ,
Distributed Ledger Technology (DLT) ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loan Forgiveness ,
Mortgage Lenders ,
Payday Loans ,
Small Dollar Lenders ,
Student Loans
Servicemembers’ Civil Relief Act - What You Need to Know -
Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more
10/23/2020
/ Artificial Intelligence ,
Coronavirus/COVID-19 ,
Credit Cards ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Financial Services Industry ,
FinTech ,
Gig Economy ,
High Net-Worth ,
Interest Rates ,
Investment Opportunities ,
Loan Forgiveness ,
Loans ,
Mortgages ,
Payday Loans ,
Reverse Mortgages ,
SBA ,
Servicemembers Civil Relief Act (SCRA) ,
Small Business Loans ,
Startups ,
Venmo